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For those aged 55 and over, a lifetime mortgage in Derby can unlock the equity tied up in your property.
This type of equity release product offers tax-free funds that can be used for a variety of purposes, from home renovations to supplementing your income or even helping family members.
With competitive rates and flexible repayment options, this could be a valuable tool in your retirement planning.
With a lifetime mortgage, you’ll retain full ownership of your home, and they are available on both freehold and leasehold properties.
Contact our experienced mortgage advisors in Derby to explore your options.
When considering lifetime mortgages in Derby, those aged 55 and over usually choose between two main options. A lump sum lifetime mortgage provides a single payment for significant costs, while a drawdown lifetime mortgage gives you the flexibility to access funds when needed.
As a trusted mortgage broker in Derby, we often suggest lifetime mortgages for purposes like:
Through our lifetime mortgage advice in Derby, we often support older borrowers who find these products beneficial for purchasing a property. Common reasons include:
When a lifetime mortgage isn’t the best solution, our team will recommend alternative mortgage products for the over-50s in Derby to suit your individual needs.
Yes, a lifetime mortgage can help those aged 55 and over fund a move to a new property.
Many people in Derby use this option to downsize, move closer to loved ones, or purchase a more suitable home for their needs.
A lifetime mortgage lets you release equity to support your move while keeping ownership of the property.
A mortgage broker in Derby can help you navigate the process and choose the right plan for your circumstances.
No, having a lifetime mortgage doesn’t mean you’re permanently tied to it.
Many plans offer flexible features, such as voluntary payments to reduce the balance or the option to remortgage to a different plan if your needs change.
Regular reviews with a mortgage broker in Derby can ensure your plan remains appropriate and beneficial for your situation.
As well as speaking with your later life mortgage advisor about whether equity release, and subsequently a lifetime mortgage, is right for you, it’s worth taking the time to consider any additional arrangements for the future.
There are several over 50’s life insurance policies available from our team that, if suitable for your circumstances, can help offset the cost of a lifetime mortgage over the life policy term.
We would also recommend discussing your lifetime mortgage plans with your family, updating your will, and setting up arrangements for any lasting powers of attorney.
These steps are important, as it is often your family, either as beneficiaries after your death or as attorneys should your mental capacity become impaired, who will be involved in selling the property to repay the lifetime mortgage.
Proper planning now not only ensures a smoother process for your loved ones later but can also make things more cost-effective in the long run.
Our Customers Love Us
5.00 Rating29 Reviews
Anonymous
Really good service till the end, making sure everything was finalised smoothly. Will definitely use again when needed.
1 week ago
Anonymous
DIna was my mortgage broker and was so friendly and non-judgemental of my circs. I was wanting to buy an ex out the property and pay off some debt - she got me an offer within days. I had used free mortgage advice companies who hasn’t managed...
1 month ago
Liz
I dealt with Dinah who is the friendliest non-judgemental advisor I have ever dealt with . My case wasn’t that straight forward, but within days I had an offer. I have used well known free advice companies before, but didn’t get anywhere with...
1 month ago
Anonymous
They were quick to respond and maintained great communication throughout the process. Emails were answered promptly, making the entire experience smooth and stress-free. Highly recommended for anyone seeking a reliable and responsive mortgage broker!
2 months ago
Donna
Amazing service would highly recommend A+++
8 months ago
Anonymous
Quite helpful and fast in dealing with the proceedings of the mortgage application.
8 months ago
Arron
Good recommendation for 1st time buyers. Made whole process easy and straightforward.
1 year ago
Kudakwashe
Very good 👍
1 year ago
Sarah
I can’t believe the service we have had and we can’t recommend them enough, Matt and the team are amazing. We have had several mortgage offers through them but the houses we have bought have fallen through but nothing has been too much trouble...
1 year ago
Carol
Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.
1 week ago
Joshua
Leo is always a pleasure to talk to. Very friendly and knowledgeable, and allows us to ask questions, no matter if we’ve asked before orbits really obvious
1 month ago
Adam
Thank you to Wayne and the team at UK Moneyman, Derby. We were first time buyers, both with adverse credit history and one with sporadic income from agency work. I was finding the whole process of applying for mortgages to be quite stressful and...
1 year ago
Arran
The team over at Derbymoneyman have been incredibly helpful in helping me understand the process of buying a house. A friendly and welcoming team who do all they can to help. Definitely recommended, you feel like the team is invested in helping you.
1 year ago
Gurjeet
Really helpful and clear.
9 months ago
Gemma
From first discussions with Tom to being passed over to Lyndsey, the whole process was easy and seamless. Everyone I have dealt with at Moneyman have been really helpful and friendly, which has helped take the stress out of applying for a...
10 months ago
Matthew
Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!
11 months ago
Susan
Very good service over the moon Wayne and Megan no there stuff
1 year ago
Dean
4 weeks and got my offer very good service from Wayne and Megan can not fault them
1 year ago
Chantelle
This company has helped get a mortgage, when we didn't think we could get one the first time, and we have continued to use them the second time and will reuse them again. They are professional and Friendly and communication is fantastic.
2 years ago
Anonymous
Great service
1 year ago
We start with a free lifetime mortgage appointment in Derby with one of our experienced advisors. This no-obligation session allows us to understand your financial goals and explore whether a lifetime mortgage is right for you. It’s a chance for you to ask questions, learn about the options available, and receive expert mortgage advice in Derby tailored to your individual needs and future plans.
Equity release may not always be the best option, and our advisors will ensure you consider all alternatives before making a decision. Depending on your situation, options like downsizing, accessing savings, or exploring other financial products could be more suitable. We provide impartial mortgage advice in Derby to help you choose the most effective solution for your circumstances in Derby.
Deciding on a lifetime mortgage is an important step, and we encourage you to involve your family or other trusted individuals in the process. Open conversations can help ensure that everyone understands the potential implications for the future. Our mortgage advisors in Derby are available to provide clarity and support during these discussions, helping everyone feel confident about the decision.
After fully assessing your needs and exploring all alternatives, we’ll provide a personalised lifetime mortgage recommendation. This includes details about the product, lender, and features that match your financial goals. Our mortgage advisors in Derby will guide you through the process with transparency and care, ensuring you feel secure in your choice every step of the way.
Our mortgage advisors in Derby offer a free mortgage review to help you make informed decisions about your future. Whether you’re considering a lifetime mortgage or exploring other financial products, this no-obligation consultation provides expert mortgage advice in Derby tailored to your individual circumstances.
As a trusted mortgage broker in Derby, we search through a wide range of lenders to find the perfect deal for you. Whether you’re looking for flexibility or a specific set of features, we’ll match you with a product that suits your financial goals.
From your first enquiry to the completion of your mortgage process, our mortgage advisors in Derby are dedicated to providing exceptional service. With clear and professional advice, we’ll support you every step of the way.
We understand how busy life can be, so our mortgage advisors in Derby are available seven days a week. Whether you need mortgage advice in Derby on a weekday or the weekend, we’re here to help at a time that works for you.
Those aged 55 and over often use a lifetime mortgage to boost their retirement income, ensuring financial security and stability.
This option provides access to property equity that can be used for everyday expenses, unexpected bills, or enjoying hobbies and leisure activities.
Seeking mortgage advice in Derby helps you explore plans that support your goals and suit your lifestyle.
Releasing equity through a lifetime mortgage is a popular way to help family members financially.
Whether assisting with a house deposit or covering education costs, this option lets you provide meaningful support while keeping ownership of your property.
Our mortgage advisors in Derby offer personalised guidance to ensure the process meets your family’s needs and financial objectives.
A lifetime mortgage can be a practical solution for those aged 55 and over to fund home improvements or adaptations.
Whether upgrading your kitchen, renovating your bathroom, or making accessibility modifications, this option allows you to stay in your home while improving its functionality.
Expert mortgage advice in Derby ensures you find the right product to finance your plans confidently.
Read our 29 Reviews
Derbymoneyman.com & Derbymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Derbymoneyman.com & Derbymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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